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One old geezer to another, wondering if you were in the market at the close on Friday. Ever since 2009.09.11 I've decided not to ever be in the market over a weekend close. Also I like the idea of being out of the market while I sleep at night. What was this, about a 70 pip drop, it could be a lot worse. Why take the weekend risk?

If I knew how to code MT4 and was coding an auto trade EA, I could have it close all contracts each evening, and each Friday at the market close. Does this make sense?

Patch
In VA
Trading Forex In the Post 9/11 World

ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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So just to tell the end of the story as it occurred over the past three hours, plus or minus, just look at the attached M1 chart below. Tonight the gap was filled in short order. When I saw the gap this afternoon, I asked myself, I wonder if the gap will be filled. If I had been long in the market at the Friday closed, I could have closed my position immediately or stayed in. I watched the market for the first 20-25 minutes and after 7 to 10 minutes decided it would be best to stay in for a while. The risk is that the market could also continue to plummet. The market opened on a long M1 candle, this helped the cause to "stay in".

As a BuyZone kind of guy, I also can't help but notice the short tails and many zero tails on the blue (sorry should be green) candles and the same thing with regards to the wicks on the red rat side. Looks like a lot of MO's momentum around this evening.

Trading is a gutsy business at times, in truth it takes guts to step up to begin with and stick it out.

Patch
In VA

Attachments

2009.10.18-the rest of the story.jpg (171.07 KiB) Viewed 2411 times

ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."

IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.